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View Poll Results: How much income inequality is TOO much income inequality?

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by DifferentDrummr

That'd be nice, but it won't happen.

I am.... both cynical and hopeful. Dave Ramsey is now the third-largest radio talkshow host. That gives me hope. But the Boomers didn't save (hey, if it feels good, do it, right?), and so now going into retirement they are a bit boned, which sort of puts a big fat wet blanket on top of it all.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by DifferentDrummr

I was referring to the Peru climate conference last month.

Yeah. I was referring to the laughable naiveté of believing that the CCP intended to and that India was capable of living up to promises to reign in carbon emissions. Also, Iran pretty-promises that it is pursuing nuclear power for only peaceful means, and Putin isn't sending any Russian soldiers to Ukraine.

Now, China's emissions probably will go down from the current growth-baseline in the near future, but that will be due to reduced economic activity, not government action.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by cpwill

Yeah. I was referring to the laughable naiveté of believing that the CCP intended to and that India was capable of living up to promises to reign in carbon emissions.

India hasn't promised much of anything until 2040. Which isn't terrible, since they have practically nothing in the way of factories. (As you know, the rest of your post is just hackery, so I'll ignore it.)

I fight against the ignorant, irresponsible, and/or closed-minded.
This group is the worst enemy of America and its freedoms. It includes, but is not limited to, all Trump supporters.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by Eric7216

Well, I read Joseph Stiglitz's book The Price of Inequality and never saw where he answered that question. As Obama has stated, at some point you have enough money. And I am not buying the dismal proposition that we need many people keep buying stuff that they don't need simply to keep the economy going. We need capital for investments, R&D, development, etc. which comes from, frankly, people with excess money. We don't need more consumption, more energy consumed in the pursuit of more stuff and more adventure. We need capital.
We should be above monkeys who are perfectly happy with a slice of cucumber until they see someone else getting a grape for the same thing. And then, out of anger and frustration, they throw the cucumber slices away. I suppose if they start getting a grape, they will be happy until another monkey gets a pineapple or something. A the cycle repeats. I realize that homo sapiens are simply another species but I like to think that there is some rational cognitive ability there.

Take a look at what nations have the highest standards of living - with the exception of the hideously-wealthy OPEC nations which would skew such an observation. Looking at all the rest of the nations of the world, which nations have the highest standards of living, and what do those nations have in common when it comes to governmental and economic systems and taxation rates?

Do that, and then see if you can figure out why the nations with the highest standards of living have such high standards of living...and then get back to me.

“To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

"...with the terrorists, you have to take out their families." - Donald Trump

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by DifferentDrummr

India hasn't promised much of anything until 2040. Which isn't terrible, since they have practically nothing in the way of factories. (As you know, the rest of your post is just hackery, so I'll ignore it.)

2040!!??!! You cant honestly believe that Indian politicians 25 years from now are going to hold themselves to some silly promise made today. They have simply kicked the can a generation down the road. Trust me, as 2040 approaches, the next batch of Indian politicians will kick the can another 10-20 years farther down the road and you will probably still be lapping it up. As for China, you and I will both be long gone and they will still be running more coal power plants than the US ever did. Seriously, if you believe in global warming, buy sun block because if its gonna happen, there is no way to stop it.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by Glen Contrarian

Take a look at what nations have the highest standards of living - with the exception of the hideously-wealthy OPEC nations which would skew such an observation. Looking at all the rest of the nations of the world, which nations have the highest standards of living, and what do those nations have in common when it comes to governmental and economic systems and taxation rates?

Do that, and then see if you can figure out why the nations with the highest standards of living have such high standards of living...and then get back to me.

OK, not counting OPEC, the following countries rank above the US is per capita income, in order:
Liechtenstein, Macau, Bermuda, Monaco, Luxembourg, Singapore, Jersey, Norway, Falkland Islands, and Switzerland.

It is odd but most of those are Constitutional Monarchies. Don't think that is the way to go but maybe if it works.

Most of those countries are fiscal conservative, with rather good surpluses or small deficits. Macau has a 23.3% of GDP surplus and Norway has a 25.8%. Most are much better than the US which has a 4% deficit.

6 have a higher tax rate than the US. Bermuda, Monaco, Singapore, and Jersey all are close to the US rate.

Don't know what that means. And sometimes the policies that took a nation to the top are not the same as the policies that a country may currently be following and perhaps are not sustainable.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by Glen Contrarian

Take a look at what nations have the highest standards of living - with the exception of the hideously-wealthy OPEC nations which would skew such an observation. Looking at all the rest of the nations of the world, which nations have the highest standards of living, and what do those nations have in common when it comes to governmental and economic systems and taxation rates?

Do that, and then see if you can figure out why the nations with the highest standards of living have such high standards of living...and then get back to me.

Doing some more research.
Of those countries with better per capita income, a slight majority seem to have a smaller government than the US, when comparing budget as a % of GDP. Jersey, Macau, Bermuda, Monaco, and Singapore have a smaller government as % of GDP, while Switzerland, Norway, Luxembourg, and Falklands have bigger government.

You appear to be correct if you are hinting at GINI coefficients as 4 countries (Macau, Luxembourg, Norway, and Switzerland) have lower Ginis than the US while Singapore has a higher GINI. The rest were unknown. Not sure if I like the GINI coefficient when you don't know what's included always. And a country like Denmark, which ranks very low in income GINI ranks right up there with the US in wealth GINI.

Not sure how GINI is computed. If the US has top 1% with 50% of the income than the GINI would be .49. If the top 20% has 80% of the income than the GINI would be higher, .60. So when we give tax breaks to the near rich, or whatever you want to call them, and people making over $100K/yr, our GINI is going up, even while we are "taxing the rich". Of course, the GINI has gone up more under Obama than it did under GWB, for what it is worth.

Re: So How Much Income Inequality is TOO Much Income Inequality?

Originally Posted by Glen Contrarian

Take a look at what nations have the highest standards of living - with the exception of the hideously-wealthy OPEC nations which would skew such an observation. Looking at all the rest of the nations of the world, which nations have the highest standards of living, and what do those nations have in common when it comes to governmental and economic systems and taxation rates?

Do that, and then see if you can figure out why the nations with the highest standards of living have such high standards of living...and then get back to me.

Maybe the answer is in having a state religion. Seems unlikely. But Monaco, Macau, Liechenstein and Luxembourg have Roman Catholic as their state religion (4 of the 10 non-OPEC countries which have a higher standard of living than the US). And I believe that Falkland Islands, Jersey, and Bermuda have the Anglican Church as the state religion. Norway has Luthernism as a state supported religion. Only Switzerland and Singapore lack a state religion, of the countries ahead of the US in per capita income.
Do you think that is the answer?